Smash Scrap Morning Metals Report – March 6, 2026

Prices as of March 06, 2026 at 01:00 PM UTC.

Market screen levels only — not yard pay prices. Actual buy prices at the scale will differ based on grade, moisture, contamination, and freight. The scrolling ticker at the top of this page shows live prices and may differ from the snapshot below.

Smash Scrap Takeaways for Today

• Gold & Silver — Gold dropped $17.75 to $5,078/oz while silver gained 26 cents to $82.38/oz. Mixed signals suggest holding precious metal scrap until a clearer trend emerges, especially with gold still above $5,000/oz.
• PGMs — Platinum and rhodium held flat at $2,131/oz and $11,450/oz respectively, while palladium edged up $1 to $1,622/oz. Stable pricing makes this a good time to sell accumulated PGM scrap from catalytic converters.
• Copper — Copper fell 3 cents to $5.80/lb, reversing Wednesday's gains. Detroit and Chicago yards may lower buy prices, so consider holding copper scrap for a few days to see if prices stabilize above $5.85.
• Aluminum — Aluminum surged 3 cents to $1.52/lb, marking strong gains for the second straight session. This upward momentum favors immediate sales to Atlanta and Houston recyclers before prices potentially cool off.
• Big Picture — Markets show mixed direction with aluminum leading gains while gold and copper retreat, suggesting selective selling based on individual metal strength.

Macro Backdrop — Energy and Risk

Brent Crude Oil: $89.17/bbl, up $5.00 (+5.94%) day-over-day.

Oil surged $5.00 higher as geopolitical tensions with Iran briefly flared, creating the kind of energy shock that ripples through American scrap yards from Detroit to Houston. The move higher in crude costs weighs on scrap processors' margins, as diesel fuel for truck fleets and natural gas for shredding operations both track energy prices. Meanwhile, bond yields climbed to 4.09% and inflation expectations ticked up, suggesting the Fed may keep rates elevated longer than hoped.

This macro backdrop creates mixed signals for scrap demand. Higher energy costs squeeze margins for steel mills and auto shredders, but the weaker dollar (down to 90.82) makes American scrap more attractive to overseas buyers. Yards in Chicago and Pittsburgh should watch how sustained oil strength above $89 affects trucking costs, while exporters in Los Angeles and Philadelphia may benefit from improved competitiveness against European suppliers. The key question is whether Iran tensions fade or escalate further.

Gold — Safe-Haven Indicator

• Spot Gold (XAU): $5,078/oz, down $17.75 (-0.35%) day-over-day. Previous close: $5,096/oz.
• 5-day trend: ↓ 3 of last 5 sessions.

Gold pulled back slightly, losing ground after recent gains as markets continue to weigh economic signals and safe-haven demand. For scrap sellers from Detroit auto recyclers to Los Angeles e-waste processors, gold remains near elevated levels, making it an opportune time to liquidate jewelry, electronics components, and dental scrap. The modest decline doesn't change the overall strong environment for scrap dealers, with precious metals buyers in major markets like Chicago and Houston still offering attractive prices for gold-bearing materials.

Silver — Industrial & Precious Hybrid

• Spot Silver (XAG): $82.38/oz, up +$0.2625 (+0.32%) day-over-day. Previous close: $82.12/oz.
• 5-day trend: ↓ 3 of last 5 sessions.
• Gold/Silver ratio: 61.6:1.

Silver gained about 26 cents today, continuing its recovery after dropping in three of the last five sessions, as scrap sellers from Detroit to Houston see modest improvement in precious metals pricing. The gold-to-silver ratio at 61.6-to-1 suggests silver remains relatively affordable compared to gold, potentially attracting more industrial buyers who use the metal in electronics and solar panels. Electronics recyclers and auto scrappers should watch for continued volatility as silver balances its role as both a safe-haven investment and critical industrial commodity.

Precious Metals (PGM) — Screen Indicators

• Platinum (Pt): $2,131/oz, flat day-over-day. Previous close: $2,131/oz.
• Platinum 5-day trend: ↓ 3 of last 5 sessions.
• Palladium (Pd): $1,622/oz, up +$1.00 (+0.06%) day-over-day. Previous close: $1,621/oz.
• Palladium 5-day trend: ↓ 3 of last 5 sessions.
• Rhodium (Rh): $11,450/oz, flat day-over-day. Previous close: $11,450/oz.
• Rhodium 5-day trend: ↓ 3 of last 5 sessions.

PGM markets are showing mixed signals for scrap sellers across Detroit, Chicago, and other major yards, with platinum and rhodium holding steady while palladium edged slightly higher. All three metals have been pressured in recent sessions, continuing the downward momentum seen earlier this week when rhodium dropped sharply and palladium fell significantly. Despite today's stability, the broader trend suggests caution for auto recyclers and catalyst processors, as the recent weakness may reflect softer industrial demand heading into the weekend.

Copper — Current Indicators

• COMEX/Spot Copper: $5.80/lb, down $0.0295 (-0.51%) day-over-day. Previous close: $5.83/lb.
• 5-day trend: ↓ 4 of last 5 sessions.

Copper prices slipped about 3 cents lower, continuing a mostly downward trend that's hit 4 of the last 5 trading sessions. Scrap yards from Detroit to Houston are seeing this weakness affect payouts for #1 and #2 copper, bare bright wire, and copper tubing from HVAC tear-outs. With copper struggling to hold above the $5.80 level, sellers of clean copper might want to monitor whether this slide continues or if the market finds support heading into next week.

Aluminum — Current Indicators

• LME Aluminum: $3,346/tonne ($1.52/lb), up +$0.0301 (+2.02%) day-over-day. Previous close: $1.49/lb.
• 5-day trend: ↑ 4 of last 5 sessions.

Aluminum prices continue their strong upward momentum, building on the sharp gains seen earlier this week across major scrap markets from Detroit to Houston. The positive trend reflects tighter supply conditions and steady demand from automotive and construction sectors, benefiting sellers of cast aluminum from auto parts, sheet aluminum from building materials, and extrusion scrap from window frames and industrial applications. With aluminum showing strength in four of the last five trading sessions, scrap yard operators should consider timing their sales strategically, though keeping an eye on any supply chain disruptions that could affect regional price spreads between markets like Chicago and Los Angeles.

Steel Scrap (Shredded (SHS), scrapmonster) — Current Indicators

• Steel Scrap Shredded (SHS) (SCRAP-SHS): $413.00/mt, flat day-over-day. Previous close: $413.00/mt.
• 5-day trend: → flat over last 5 sessions.
• HMS 1&2 (80:20) (SCRAP-HM): $366.00/mt (flat day-over-day).

Want to move PGM-bearing material, copper, aluminum, or steel scrap through competitive bidding? List your lots on Smash Scrap and let vetted buyers compete for your scrap.